Hangzhou Biopharma Town is founded by the Hangzhou municipal government in the Hangzhou Economic Development Area in May 2018. [Photo/zj.zjol.com.cn]

The first phase of construction on the Oncology and Basic Medical Sciences Institute of the Chinese Academy of Sciences, located in the core area of the Hangzhou Biopharma Town, is approaching completion and is expected to begin operating in September, according to local media reports.

The institute, chaired by CAS academician Tan Weihong, is the first high-profile scientific research platform to be introduced to the Hangzhou Qiantang New Area since its founding last April. It plans to enroll nearly 50 postgraduates and 100 postdoctoral scholars this year.

Smooth progress on these major programs in the Hangzhou Biopharma Town over the past few months reflects how the biomedicine tech zone has managed to weather the impact of the COVID-19 epidemic.

The Hangzhou Biopharma Town, located in the Hangzhou Economic Development Area (part of the Hangzhou Qiantang New Area), was founded by the Hangzhou municipal government in May 2018. It is home to around 1,000 biomedicine enterprises with a total annual revenue exceeding 35 billion yuan ($5 billion), making up nearly half of the city's biomedicine sector. Over the first five months this year, the industrial output of the Hangzhou Biopharma Town stood at 15.1 billion yuan.

To create a suitable environment for the long-term growth of the biomedicine sector, Hangzhou municipal government and Hangzhou Qiantang New Area authorities have established a five-billion-yuan fund dedicated to the sector, strengthened cooperation with Zhejiang University and the CAS, and brought in seven of the top 10 global pharmaceutical companies, including Pfizer and MSD.

 "Amid the pandemic, we continue to improve the environment for biomedicine companies. For example, we have been helping companies connect with clinical centers at Zhejiang hospitals, recruiting domestic venture capital firms online, and holding contests to attract new talent and investment," an official from the Hangzhou Biopharma Town said.

In March, the Hangzhou Biopharma Town and the First Affiliated Hospital of Zhejiang University jointly launched a worldwide recruitment program for healthcare innovation programs, with a total of 45 programs from medical institutions and universities being awarded financial support and favorable treatment.